Requirements for sustainable business practices and associated sustainability services play an important role in the orientation of corporate activities
Commitment in economic, ecological and social areas, scarcity of resources, climate change, occupational safety and respect for human rights are becoming an integral and equal part of corporate behavior and reporting. Sustainability Services is the business unit that oversees their integration into corporate venture.
Companies face a growing external pressure from stakeholders to incorporate ESG (environmental, social and governance) factors in their business model and strategy. At the same time, also legal requirements are increasingly directed towards sustainability. The current CSRD Implementation Act in conjunction with the ESRS, the EU Taxonomy Regulation and the ESEF Tagging Regulation on EU level as well as the German Supply Chain Due Diligence Directive (Lieferkettensorgfaltspflichtengesetz) on national level are only some examples of recent changes in the regulatory framework directed towards more sustainable business practices.
To comply with the various sustainability reporting requirements in practice, the EU has developed the European Sustainability Reporting Standards (ESRS). They provide a uniform set of rules for reporting within the EU standardizing reporting requirements in the EEA.
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